Every now and then I get an email that goes something like this ... ‘I have been in real estate for 2 years and I made next to nothing ... I have spent money on this, this, and this ... what is business planning going to do for me?' At this point I want to ask the real estate agent the obvious question ... Did you make a Business Plan prior to getting into this industry, or did you think the moment you got a license the phone would just magically ring?
A Business Plan is not a panacea for an ailing business. A Business Plan is there to give you answers about your business and help make better business decisions. Additionally, a Business Plan, if used properly, will be your road map to achieving your income goal.
However, A Business Plan:
Will NOT generate you leads.
Will NOT do the activities for you.
A Business Plan will keep you focused on the activities needed meet your income goal.
A Business Plan does hold you accountable for the activities you said you would do and reminds you of them constantly.
Steps in Building a Successful Business Plan
1) Create A Plan
2) Develop a list of Sources of Business
3) Track your Progress
4) Make corrections to your plan i.e. get rid of things that are not working.
This is still a business ... let's get real and treat it like one.
Check out www.CreateAPlan.com for a demo for a business plan designed for Real Estate Professionals
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